The War of the Houses

It seems designed to boost uncertainty for potential buyers, inflate housing prices (not to mention commissions) and reduce overall transparency.A hot sellers' market is partly the cause. But there seems to be more quality control and consumer protection when buying a car or a litre of milk than when making the biggest purchase in most people's lives.The way bidding wars are conducted in Toronto is at the heart of the problem. There don't appear to be any rules. In one case we were asked to re-bid because several of the offers were "similar." Similar?

Two new taxes vital for Toronto property's

Intense behind-the-scenes pressure is being applied to city councillors in the run-up to a vote expected tomorrow on imposing two new taxes on Torontonians. Money from these taxes is crucial to the city's future, but the measures face staunch opposition. A proposed land transfer tax would take $300 million from people buying homes or other property in the city. And a new motor vehicle levy would drain $56 million from owners of automobiles and motorcycles. That has generated charges of a "tax grab" at city hall. If only it were so simple.

Trump (Tower) Gets Chopped Down

What's to blame for the slow sales? Back in March Trump called Toronto's Real Estate Market 'soft'. In response the Toronto Real Estate Market proceeded to have record sales in April, May, and June. Most likely the astronomical prices of the suites combined with the questionable location (dead-centre in the financial district) were important factors explaining why sales were so poor.

Pandox SA Pays $46M for InterContinental Montreal

MONTREAL-Swedish hospitality firm Pandox SA has completed its acquisition of the InterContinental Montreal, a 357-room inn that traded for just over $46 million. Located near the city’s Financial District, the operation will retain its current flag under a 30-year management contract with InterContinental Hotels Group, the new owners announced in a release.